FX.co ★ Oil Rises to Start the Week

Crude oil inched up to 99 USD/Bbl after ending the week at its highest level in nearly four years, supported by escalating US–Iran tensions over energy infrastructure. Over the weekend, President Trump warned he would “obliterate” key Iranian power plants if the Strait of Hormuz was not reopened to shipping by late Monday. In response, Iran’s foreign minister threatened retaliatory strikes on critical infrastructure used by Israel, the United States, and Gulf states, including power stations, telecommunications networks, and water desalination facilities.